Initially, Shari Redstone, the controlling shareholder of CBS, took the position that Les Moonves, the CEO had to go. The directors were resistant and said they were willing to stay until midnight to get an agreement to stand 100% behind Mr. Moonves as he faced allegations of assault and sexual harassment.
Two weeks later, Mr. Moonves was out. The reason: One of the woman was planning to go public with her accusations and Mr. Moonves was working to find her a job at CBS in order to have her continue her silence. Mr. Moonves did not tell the board about her or his work to ensure silence. In short, he misled his board.
The board did not have to deal with allegations, denials, and proof. The duplicity of Mr. Moonves did him in.
James B. Stewart, “Revelation of Moonves’s Deceit Was Last Straw for CBS Board,” New York Times, September 13, 2018, p. A1.